The U.S. presidential election is more than a year away, but allies and adversaries around the world have already begun to contemplate—and even plan for—the return of Donald Trump to the White House. For many foreign capitals, the possibility of a second Trump administration is a source of anxiety. Allies from Paris to Tokyo regard Trump as an erratic leader with little interest in cultivating long-term ties to counter Russian and Chinese expansionism. Others, including Beijing and Moscow, see potential benefits from Trump, whom they view as a transactional leader who might be willing to strike deals to ease tensions…
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